Today in Ghost Biz, Gary Stroebel and The Finance Ghost discuss:
• Pick n Pay’s worsening turnaround — A trading update shows headline losses have deteriorated by at least 20%, reinforcing how difficult grocery retail recoveries are, with the market effectively assigning little to no value to the core business.
• Bidvest Bank sale collapses — The planned disposal to Access Bank fell through after conditions weren’t met in time, sending Bidvest back to the drawing board while it keeps the bank stable and attractive for a future buyer.
• Standard Bank clarifies stake confusion — Stakes above 5% in other banks were driven by investment subsidiaries acting in the ordinary course of business, not a takeover strategy, with the disclosures largely regulatory rather than strategic.
